The global banking and financial sector is evolving at an unprecedented pace, mainly driven by emerging technologies that are redefining how institutions assess risk, manage data, and serve clients.
At the forefront of this transformation is Md Masud Kowsar, a Bangladeshi-born researcher whose career bridges hands-on banking expertise with cutting-edge financial technology research. With nearly a decade of professional experience in Bangladesh and current research activities in the United States, Kowsar is helping shape the future of credit risk assessment and financial inclusion through the use of Artificial Intelligence (AI) and blockchain technology.
Kowsar’s journey began in Bangladesh’s competitive banking sector, where he served in pivotal roles such as Branch Credit Assessment Officer, Regional Credit Assessment Officer, and Branch Relationship Officer. Over eight years, he developed expertise in loan evaluation, credit risk analysis, customer relationship management, and branch–regional coordination. Reflecting on this period, he explained, “Those roles taught me that banking is not just about numbers, it’s about understanding people, communities, and the ripple effects of financial decisions. I learned the value of accuracy and empathy in lending.” This grounding in both operational and human aspects of banking would become the foundation for his later research.
Holding both a Bachelor’s and Master’s degree in Mathematics from a respected Bangladeshi university, Kowsar developed advanced analytical and statistical skills that now serve as the backbone of his financial research. His mastery of mathematical modeling has equipped him to interpret complex data sets and uncover patterns that inform better lending decisions.
“Mathematics gives you a lens to see patterns where others see chaos,” he remarked. “In finance, that can mean the difference between making a sound loan decision and taking on unnecessary risk.” This fusion of academic rigor and industry knowledge has allowed him to approach financial challenges with a rare combination of theoretical insight and practical acumen.
Currently, Kowsar is pursuing his MBA at Indiana State University’s Scott College of Business while working as a Graduate Assistant with the Student Managed Investment Fund Consortium (SMIFC). His role involves engaging in high-level financial research and contributing to SMIFC conferences, where students, faculty, and industry experts from across the United States present and publish their work. In April 2025, his team achieved first place among 41 universities in the poster session at SMIFC South 2025. He also serves as a Stock Analyst for ISU’s Investment club. “It was a proud moment,” he recalled of the SMIFC win. “But more than winning, it was about collaborating with brilliant minds. That’s where innovation happens—at the intersection of different perspectives.”
Kowsar’s scholarly contributions are equally noteworthy, with seven published research papers to date. Among these, three stand out for their practical implications in modern finance. The first, Mathematics for Finance: A Review of Quantitative Methods in Loan Portfolio Optimization, analyzes 87 studies published between 2000 and 2024 to present advanced approaches in credit risk management.
The second, A Systematic Review of Credit Risk Assessment Models in Emerging Economies: A Focus on Bangladesh’s Commercial Banking Sector, addresses the specific challenges and solutions relevant to his home country’s banking industry. The third, Blockchain in Banking: A Review of Distributed Ledger Applications in Loan Processing, Credit History, and Compliance, demonstrates that blockchain can reduce loan approval times by 40% while significantly enhancing data transparency and security.
As Kowsar noted, “Research is most valuable when it translates into better practices. If a paper can help a banker approve a loan faster and more fairly, then it’s worth the months of work.”
Kowsar looks forward to creating AI- and blockchain-driven credit risk models that enable faster, fairer, and more transparent lending decisions. He believes these innovations can increase credit access for small businesses and entrepreneurs, especially those underserved by traditional banks.
Technology alone won’t change the financial system,” he stressed. “It must be combined with appropriate policies and human judgment. That’s how we foster trust and inclusion.”
His strategy integrates technological innovation with a strong understanding of policy and ethical issues, embodying a comprehensive vision of sustainable development finance.
Kowsar’s journey from community-level banking in Bangladesh to high-level research in the United States embodies both personal ambition and a deep commitment to societal impact. His work contributes to the global banking sector’s pursuit of efficiency, fairness, and stability, while also inspiring pride in his homeland. “No matter where I work,” he said, “I carry my roots with me. Bangladesh shaped my values; the U.S. is shaping my opportunities.
Together, they inspire my vision for a better financial future.” In the intersection of mathematics, banking, and emerging technology, Md Masud Kowsar stands as a figure whose contributions are poised to influence financial systems for years to come.
